LA County’s ugly draft budget sets aside $100M for housing efforts

L.A. County chief executive Sachi Hamai called the process “unlike any we’ve ever faced.”

Los Angeles /
Apr.April 29, 2020 10:00 AM
L.A. County Chief Executive Sachi A. Hamai
L.A. County Chief Executive Sachi A. Hamai

Los Angeles County approved a $35.5 billion budget for the coming fiscal year, one that is shaping up to be its most challenging yet.

The fiscal year 2020-2021 budget included $50 million in one-time funding and $100 million overall set aside for various housing efforts including supporting affordable and extremely low-income housing, rental assistance, re-housing, and home-ownership services, according to the L.A. Times.

The budget process revealed the dire shortfall that county officials see on the horizon — $1 billion in lost tax revenue by the end of the fiscal year in June and another $1 billion through the end of the fiscal year 2020-2021. Overall, the budget reflects a $600 million cut in requirements from last year.

“We are in a profoundly challenging economic environment that may get worse before it gets better,” L.A. County’s chief executive officer Sachi Hamai said in a statement.

Hamai pointed to the uncertainty over the amount of financial assistance the county would receive from the state and federal governments.

The budget sets aside $430 million for homeless services and the county noted the pandemic’s impact on tax revenue would likely reduce the amount of tax-funded Measure H dollars available for addressing homelessness.

The county has taken up several measures designed to keep people in their homes, including what is effectively a temporary ban on evictions in unincorporated L.A. County.

The county is also using money from the federal stimulus packages and private sources to help pandemic-impacted workers make rent payments. [LAT] — Dennis Lynch


Related Articles

arrow_forward_ios
A sign posted outside of a Los Angeles deli (Getty)
LA County will require vaccinations to enter bars, restaurants, businesses
LA County will require vaccinations to enter bars, restaurants, businesses
The second quarter was the third straight of rising asking rents (Unsplash / Christian Gabele)
Rents rise in Los Angeles as renters scoop up apartments
Rents rise in Los Angeles as renters scoop up apartments
As of early August, the state had distributed around $243 million in rental assistance (Getty)
LA’s rental assistance program relaunches as eviction moratorium ends
LA’s rental assistance program relaunches as eviction moratorium ends
(County of Los Angeles)
Project Roomkey almost certainly saved lives, but fell short of its initial goals
Project Roomkey almost certainly saved lives, but fell short of its initial goals
(Unsplash via Abbie Bernet)
SoCal home prices hit another record in July, but rate of increase slows
SoCal home prices hit another record in July, but rate of increase slows
Developer Geoff Palmer with one of his properties (Getty, G.H. Palmer Associates)
$100M moratorium: That’s how much Geoff Palmer’s firms say LA eviction ban has cost them
$100M moratorium: That’s how much Geoff Palmer’s firms say LA eviction ban has cost them
California Rental Housing Association President Christine Kevane LaMarca and California Governor Gavin Newsom (Getty, Facebook via LaMarca)
California landlords group sues state over eviction moratorium extension
California landlords group sues state over eviction moratorium extension
The ordinance was first proposed in 2017, and finally passed by City Council in June (Getty)
LA tenants now have more options to sue landlords for harassment
LA tenants now have more options to sue landlords for harassment
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...